| Apple Computer, Inc. |
| Income Statement |
| (in millions of dollars) |
| | 2002 | 2001 | 2000 | 1999 | 1998 |
| Net sales | $ 5,742 | $5,363 | $ 7,983 | $ 6,134 | $ 5,941 |
| Cost of sales | 4,139 | 4,128 | 5,817 | 4,438 | 4,462 |
| Gross margin | 1,603 | 1,235 | 2,166 | 1,696 | 1,479 |
| Operating expenses: |
| Research and development | 446 | 430 | 380 | 314 | 303 |
| Selling, general and administration | 1,111 | 1,138 | 1,166 | 996 | 908 |
| Executive bonus | (2) | - 0 | 90 |
| Restructuring costs | 30 | - 0 | 8 | 27 | - |
| In-process research and development | 1 | 11 | - 0 | - 0 | 7 |
| Total operating expenses | 1,586 | 1,579 | 1,644 | 1,337 | 1,218 |
| Operating income | 17 | (344) | 522 | 359 | 261 |
| Other income and (expenses) | 70 | 304 | 570 | 317 | 68 |
| Income (loss) before taxes | 87 | (40) | 1,092 | 676 | 329 |
| Provision (benefit) for taxes | 22 | (15) | 306 | 75 | 20 |
| Net income (loss) | $ 65 | $ (25) | $ 786 | $ 601 | $ 309 |
| Basic EPS | $ 0.18 | ($0.07) | $ 2.42 | $ 2.10 | $2.34 |
| Diluted EPS | $ 0.18 | ($0.07) | $ 2.18 | $ 1.81 | $2.10 |
| Table A: Apple Income Statement |
| Apple Computer, Inc. |
| Balance Sheet |
| (in millions of dollars) |
| Assets | 2002 | 2001 | 2000 | 1999 | 1998 |
| Current Assets |
| Cash and equivalents | $ 2,252 | $ 2,310 | $ 1,191 | $ 1,326 | $ 1,481 |
| Short-term investments | 2,085 | 2,026 | 2,836 | 1,900 | 819 |
| Accounts receivable, net | 565 | 466 | 953 | 681 | 955 |
| Inventories | 45 | 11 | 33 | 20 | 78 |
| Deferred tax assets | 166 | 169 | 162 | 143 |
| Other current assets | 275 | 161 | 252 | 215 | 365 |
| Total current assets | 5,388 | 5,143 | 5,427 | 4,285 | 3,698 |
| Property, plant & equipment, net | 621 | 564 | 313 | 318 | 348 |
| Non-current investments | 39 | 128 | 786 | 339 |
| Other assets | 250 | 186 | 277 | 219 | 243 |
| Total assets | $ 6,298 | $6,021 | $ 6,803 | $ 5,161 | $ 4,289 |
| Liabilities |
| Current Liabilities |
| Notes payable | $ - 0 | $ - 0 | $ - 0 | $ - 0 | $ - 0 |
| Accounts payable | 911 | 801 | 1,157 | 812 | 719 |
| Accrued expenses | 747 | 717 | 776 | 737 | 801 |
| Total current liabilities | 1,658 | 1,518 | 1,933 | 1,549 | 1,520 |
| Long-term debt | 316 | 317 | 300 | 300 | 954 |
| Deferred tax liabilities | 229 | 266 | 463 | 208 | 173 |
| Total liabilities | 2,203 | 2,101 | 2,696 | 2,057 | $ 2,647 |
| Shareholders' Equity |
| Preferred stock | - 0 | 0 | 76 | 150 | 150 |
| Common stock | 1,826 | 1,693 | 1,502 | 1,349 | 633 |
| Retained earnings | 2,325 | 2,260 | 2,285 | 1,499 | 898 |
| Other equity | (56) | -33 | 244 | 106 | (39) |
| Total shareholders' equity | 4,095 | 3,920 | 4,107 | 3,104 | 1,642 |
| Total liabilities and S/E | $ 6,298 | $6,021 | $ 6,803 | $ 5,161 | $ 4,289 |
| Table B: Apple Balance Sheet |
| Apple Computer, Inc. |
| Statements of Cash Flows |
| (in millions of dollars) |
| | 2002 | 2001 | 2000 | 1999 | 1998 |
| Operating Activities |
| Net income (loss) | $ 65 | ($25) | $ 786 | $ 601 | $ 309 |
| Depreciation and amortization expense | 118 | 102 | 84 | 85 | 111 |
| Deferred income taxes | (34) | (36) | 163 | (35) | 1 |
| IPRD and gains from equity sales | 42 | (88) | (364) | (230) | 7 |
| Change in accounts receivable | (99) | 487 | (272) | 274 | 72 |
| Change in inventory | (34) | 22 | (13) | 58 | 359 |
| Change in accounts payable | 110 | (356) | 345 | 93 | 34 |
| Restructuring costs | - 0 | | (27) | 2 | (107) |
| Other | (79) | 79 | 124 | (50) | (11) |
| Cash generated by operating act. | $ 89 | $185 | $ 826 | $ 798 | $ 775 |
| Investing Activities |
| Purchase of short-term investments | $ (4,144) | ($4,268) | $ (4,267) | $ (4,236) | $ (2,313) |
| Proceeds from sale of S-T investments | 4,100 | 5,089 | 3,331 | 3,155 | 1,723 |
| Proceeds from sale of P,P&E | - 0 | - 0 | 11 | 23 | 89 |
| Purchase of P,P&E | (174) | (232) | (107) | (47) | (46) |
| Acquisition of technology | | - 0 | | | (10) |
| Proceeds from sale of equity invest. | 25 | 340 | 372 | 245 | 24 |
| Other | (59) | (37) | (270) | (104) | (10) |
| Cash used for investing activities | $ (252) | $892 | $ (930) | $ (964) | $ (543) |
| Financing Activities |
| Notes payable to bank | $ - 0 | - 0 | - 0 | - 0 | $ (25) |
| Long-term borrowings | - 0 | - 0 | - 0 | - 0 | 3 |
| Proceeds from issuance of pref. stock | - 0 | - 0 | - 0 | - 0 |
| Increase in common stock, net | 105 | 42 | (31.00) | 11.00 | 41 |
| Dividends | - 0 | - 0 | - 0 | - 0 |
| Cash generated by financing act. | $ 105 | $42 | $ (31) | $ 11 | $ 19 |
| Total cash generated (used) | $ (58) | $1,119 | $ (135) | $ (155) | $ 251 |
| Cash and cash equiv., beginning of year | $ 2,310 | $1,191 | $ 1,326 | $ 1,481 | $ 1,230 |
| Cash and cash equivalents, end of year | $ 2,252 | $2,310 | $ 1,191 | $ 1,326 | $ 1,481 |
| Table C: Apple Statement of Cash Flows |
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